Home Depot may fall to 307.00 - 316.00

Our pivot point stands at 360.

Our preference

Target 316.

Alternative scenario

The upside breakout of 360 would call for 375 and 384.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is trading under its 20 day moving average (358.8425) but above its 50 day moving average (347.2402).

Supports and resistances

384 **

375 *

360 **

355

348.34 (USD-last)

324

316 **

307 *

299 **

Number of asterisks represents the strength of support and resistance levels.